Black Friday

iVillage Member
Registered: 11-26-2013
Black Friday
876
Fri, 11-29-2013 - 12:24pm

1. Did you do any shopping yesterday or today?

2. Do you have any leftovers? What is your favorite?

3. Do you have a budget for holiday gifts?

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iVillage Member
Registered: 06-27-1998
Wed, 12-04-2013 - 1:22pm

turkeyday wrote:
<p><span style="font-size:13px; text-align:left"> I agree with being honest and following the IRS regulations,</span></p><p style="text-align:left"><strong><span style="font-size:x-small"><span>And those regulations for many things given as "gifts" at a job are taken care of by the emploYER not employEE.</span></span></strong></p>

If you mean by taken care of = added to the w2 as a fringe benefit so it can be taxed by both the employee and employer, then yes.  However it is the responsibilty of the employee to file and pay their taxes correctly, not the employer.

Is that what you mean?

PumpkinAngel

iVillage Member
Registered: 11-26-2013
Wed, 12-04-2013 - 1:15pm

 I agree with being honest and following the IRS regulations,

And those regulations for many things given as "gifts" at a job are taken care of by the emploYER not employEE.

iVillage Member
Registered: 06-27-1998
Wed, 12-04-2013 - 12:58pm

thardy2001 wrote:
<p><blockquote class="quote-msg quote-nest-1 odd"><div class="quote-author"><em class="placeholder">savcal2011</em> wrote:</div>  Well, since gift cards are taxable, i'd put them in the bonus category.   And if the company doesn't take taxes out of them, the employee better darn well report them on their taxes.&lt;/p&gt;&lt;p&gt;A turkey or ham, since it is property and not a cash equivalent, would be a gift. &lt;/p&gt;</blockquote></p><p>You and Pumpkinangel just completely disagreed on the gift card, lol!  I'm with you, Savcal.  It's a bonus, and thus reportable income.  I would definitely report it and be honest and not cheat on my taxes. </p>

No, we both said they were taxable.  However, there are employee gifts that are considered fringe benefits, that are excluded from tax, per the IRS.  I agree with being honest and following the IRS regulations, however turkey seems to think that is a limited experience, a black and white world she called it.  Pehaps it is, who knows?

PumpkinAngel

Avatar for savcal2011
iVillage Member
Registered: 10-06-2010
Wed, 12-04-2013 - 12:53pm

thardy2001 wrote:
You and Pumpkinangel just completely disagreed on the gift card, lol!  I'm with you, Savcal.  It's a bonus, and thus reportable income.  I would definitely report it and be honest and not cheat on my taxes. </p>

No, we didn't disagree at all. 

"I don’t mind a banshee, that’s fine. 2 banshees? I HATE you. I actually wish bad things upon you." -- Day[9] Daily #459 P1

iVillage Member
Registered: 09-01-2002
Wed, 12-04-2013 - 12:39pm

savcal2011 wrote:
  Well, since gift cards are taxable, i'd put them in the bonus category.   And if the company doesn't take taxes out of them, the employee better darn well report them on their taxes.</p><p>A turkey or ham, since it is property and not a cash equivalent, would be a gift. </p>

You and Pumpkinangel just completely disagreed on the gift card, lol!  I'm with you, Savcal.  It's a bonus, and thus reportable income.  I would definitely report it and be honest and not cheat on my taxes. 

iVillage Member
Registered: 09-01-2002
Wed, 12-04-2013 - 12:37pm

savcal2011 wrote:
  Well, since gift cards are taxable, i'd put them in the bonus category.   And if the company doesn't take taxes out of them, the employee better darn well report them on their taxes.</p><p>A turkey or ham, since it is property and not a cash equivalent, would be a gift. </p>

You and Pumpkinangel just completely disagreed on the gift card from the employer, lol!  I'm with you, Savcal.  It's reportable income.  I would definitely report it and be honest and not cheat on my taxes. 

iVillage Member
Registered: 06-27-1998
Wed, 12-04-2013 - 12:02pm

turkeyday wrote:
<p><span style="font-size:13px; text-align:left">I don't know....some people who claim to do their own taxes here aren't really up IRS regulations.  :)</span></p><p><strong><span style="font-size:13px; text-align:left">Not sure what that has to do with my place of business?</span></strong></p>

Sav said employee, not employer.  My comment was on the employee that was mentioned (and quoted) in my comments.  So not only did I not mention employer (as that wasn't the context), I also didn't mention any place of business.  Why is that you think my comments have anything to do with your place of business?  You know, since they weren't mentioned, at all?

PumpkinAngel

Avatar for savcal2011
iVillage Member
Registered: 10-06-2010
Wed, 12-04-2013 - 11:14am

turkeyday wrote:
<p><span style="font-size:13px; text-align:left">My references were people he'd done work for - his past clients.   I too place great value on references from friends or other acquaintances - but if your friends haven't had this type of work done, that isn't possible.</span></p><p><strong><span style="font-size:13px; text-align:left">You spoke to these clients or just read their reviews online or someplace else?</span></strong></p>

A combination of both. As I've said numerous times, I did my due diligence.

"I don’t mind a banshee, that’s fine. 2 banshees? I HATE you. I actually wish bad things upon you." -- Day[9] Daily #459 P1

iVillage Member
Registered: 11-26-2013
Wed, 12-04-2013 - 11:14am

I don't know....some people who claim to do their own taxes here aren't really up IRS regulations.  :)

Not sure what that has to do with my place of business?

iVillage Member
Registered: 11-26-2013
Wed, 12-04-2013 - 11:11am

My references were people he'd done work for - his past clients.   I too place great value on references from friends or other acquaintances - but if your friends haven't had this type of work done, that isn't possible.

You spoke to these clients or just read their reviews online or someplace else?

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